Increasing numbers of people are moving to the areas surrounding Central London, rather than choosing to live in the centre itself. Finchley is a prime example. Situated in North London, it’s experienced a surge in popularity in recent years, which in turn, has driven property prices upwards.
2019 was generally a good year for property in Finchley, in comparison with the rest of the London. With a recent boost in the property market following the recent election, 2020 looks set to be another positive year.
Why is Finchley so Popular?
Finchley has a lot to offer residents; from young commuting professionals, to families with children. It’s divided into four main areas; North, East, West and Central Finchley (formerly known as Church End).
Each of these regions enjoys easy access to the North Circular, not to mention several train stations. There’s also a wealth of amenities on offer, such as ArtsDepot (with theatre space, a gallery and a café), and the Great North Leisure Park. With several regeneration schemes earmarked to take place within the next few years, new business and leisure facilities will continue to make the area both convenient and welcoming into 2020.
Types of property on offer
East Finchley is the most diverse in terms of properties; with multi-million-pound mansions sitting alongside modest studio apartments. Fans of period homes tend to gravitate towards Central Finchley, where there are plenty of Victorian and Edwardian houses, and 1920s homes dominate the market in West Finchley.
As for North Finchley? It’s excellent transport links make it a magnet for those who work in the city. There’s a wide range of properties on the market here; from Victorian terraces to modern, purpose-built apartment blocks.
Several new small-scale developments will continue to diversify the area’s residential property into 2020.
What’s happened to Finchley House Prices?
Property prices have risen significantly in most parts of Finchley in recent years. Nowhere is this more evident than in East Finchley, where the average house price has sky-rocketed by over 27% in the last three years. For a decent-sized home here, anticipate paying over £800,000.
North Finchley has also experienced a noticeable boost in property values, rising by over 10% in two years. This is a good location for those who are working to a budget, as the average house costs £200,000 less than in East Finchley.
The only area that has bucked the trend is Finchley Central, where prices have largely stabilised. It’s here that you’ll find a real bargain, with the average home being around £571,000.
Rental rates
The rental market is still performing strongly in Finchley, with landlords generating good yields in most areas. In East Finchley, for example, the average rent is between £550 and £1,200 a week, which offers plenty of profit-making potential.
North and Central Finchley are slightly less, and are around £400 to £500 a week on average. However, demand is high, and looks likely to grow in the future.
House prices in Finchley – what’s in store?
If recent trends are anything to go by, it’s likely that property prices in Finchley will continue to rise in 2020. It’s a highly desirable location, thanks to its convenient location, diversity of architectural styles, excellent schools, and great local amenities. As more people choose to move out Central London, Finchley’s popularity is only likely to grow.
Our advice? Don’t wait around too long to invest here – get in quick and take advantage of potential capital growth further down the line. View our range of properties for sale in Finchley here.